AbbVie (NYSE: ABBV) stock price indicates bullish sentiments, seems near its second quarter (Q2) report, its share price accumulating active bulls in the market. The bullish sentiments in the ABBV stock indicate that investors are quite positive about the company’s share price. Thus, ABBV stock showed an upside ride with weekly and monthly price surges.
ABBV Stock Price Analysis
Last week, AbbVie (ABBV) stock witnessed a bullish trend as the stock showed a 1.09% surge on July 21, 2023, Friday’s trading session. The stock opened at $142.20 while the closing was at $143.74, which added $1.55.
In the intraday trading session, the stock price noted a high at $144.18, and a low at $141.94, as per the data sourced from TradingView, a web-based social network for traders.
As the above price chart shows, the pre-market price of ABBV stock shows a slight decline in its prices from its last closing price. Meanwhile, the last closing price was resting almost near its 100-day moving average.
As the pre-market session shows a bearish trend, a little price volatility can be expected ahead of Q2 2023.
The 1-year price target set by the analyst is resting at $166.08 which shows over 15% rise from the last closing price of ABBV stock. Moreover, the maximum price estimate set by analysts is $201.00 and the minimum estimate is $135.00.
Although, in the past 3-months, analysts have given a “buy” rating to AbbVie Inc.
The Fundamentals of AbbVie
AbbVie Inc. (NYSE: ABBV), an American pharmaceutical company, has a market cap of nearly $253.59 Billion. In late April 2023, the company released its Q1 2023 earnings and revenue report that states its net income in the quarter is $228.00 Million. ABBV price-to-sales ratio is 4.45. Although, it has an Enterprise Value to EBITDA ratio of 9.73.
ABBV dividends are paid quarterly and the last dividend per share was $1.48. As of now, Dividend Yield (TTM)% is 4.02%. In Q1 2023, the earnings per share (EPS) of AbbVie Inc. was $2.46 whereas the estimation was $2.51 which accounts for a negative 1.95% surprise.
The revenue in the same quarter amounts to $12.22 Billion despite the estimated figure of $12.17 Billion.
For the upcoming Q2 2023, the estimated EPS is $2.86, and revenue is expected to reach $13.55 Billion.
